FTSE 250 movers: Savills soars as Labour wins election

5th Jul 2024 14:13

(Sharecast News) - FTSE 250 (MCX) 20,760.91 0.73%

Savills topped the 250 risers as housebuilders and property-related stocks gained on hopes the new Labour government would implement its plans to build more homes. Crest Nicholson was also on the rise.

Dan Coatsworth, investment analyst at AJ Bell, said: "The general election has resulted in a significant political shift for the UK and investors appear to welcome the changing of the guard, judging by how the more domestically focused FTSE 250 got off to a very strong start."

"The FTSE 250 had a stronger reaction to the 2024 general election result than the FTSE 100 because it has more companies which do business in the UK. An initial 1.8% gain in early trading for the FTSE 250 was the second highest rise for the first day of a new UK prime minister since the mid-cap index was created in 1994."

Market Movers

FTSE 250 - Risers

Savills (SVS) 1,196.00p 6.79%

Ocado Group (OCDO) 325.60p 6.58%

Kier Group (KIE) 147.40p 6.04%

4Imprint Group (FOUR) 6,220.00p 4.89%

Close Brothers Group (CBG) 477.00p 4.70%

Alpha Group International (ALPH) 2,360.00p 3.96%

Ithaca Energy (ITH) 128.80p 3.87%

Crest Nicholson Holdings (CRST) 253.80p 3.76%

W.A.G Payment Solutions (WPS) 68.60p 3.63%

XPS Pensions Group (XPS) 323.00p 3.53%

FTSE 250 - Fallers

Softcat (SCT) 1,709.00p -4.95%

Watches of Switzerland Group (WOSG) 413.40p -2.45%

Trustpilot Group (TRST) 225.00p -2.17%

Carnival (CCL) 1,238.00p -2.17%

Indivior (INDV) 1,162.00p -1.94%

JTC (JTC) 985.00p -1.70%

Bridgepoint Group (Reg S) (BPT) 239.60p -1.56%

Aston Martin Lagonda Global Holdings (AML) 146.40p -1.41%

Fidelity China Special Situations (FCSS) 198.40p -1.29%

Hargreaves Lansdown (HL.) 1,100.00p -1.26%